What’s hot in crypto this week?
The blockchain project TRON - a delegated proof of stake network based in Singapore that was founded by the charismatic Justin Sun in 2017. It claims a throughput of 2,000 transactions per second and aims to be a fast, scalable, and responsive smart contract platform.
The TRON blockchain works on top of the TRON virtual machine, which is analogous to the Ethereum Virtual Machine (EVM). The team’s aim is to disrupt the content model of the web, giving users a way to monetize their data, with the stated goal of “healing the web.”
Why?
Many observers have been alleging that TRON is a scam.
It all started in January 2018, when the project was accused of plagiarizing other protocols’ white papers to write its own. The project’s founder, Sun, chalked it up to unknowing volunteers with purported translation difficulties.
Then in March 2019, Sun announced he would be giving away $20 million and a Tesla (TSLA) - Get Report to celebrate the success of BitTorrent, a peer-to-peer technology for sharing files on the internet. Sun did not follow through with this promise, and was of course accused of promoting false advertising.
More info:
https://www.thestreet.com/investing/cryptocurrency/as-accusations-and-rumors-swirl-around-tron-here-is-what-we-found